September 15 Investment Report: AI Value Portfolio +49.9%

Up 49.87% Annually Amid Semiconductor Plunge: The Resilience of a Value Strategy

The KOSPI tumbled 3.26% in a single day on the 14th, shaking Asian markets, yet the valuation-focused "AI Value Portfolio" held its cumulative return at +49.87%, demonstrating steady resilience through the storm. It was an anxious trading day, with the Philadelphia Semiconductor Index plummeting 5.86% and the won-dollar exchange rate climbing to 1,346 won, but the portfolio's total assets stood at $14,987, defending the $15,000 mark over the past five days.

Catching Its Breath From the Peak, But the Trend Holds

The asset trajectory shows the portfolio peaked at $15,258 on the 10th, pulled back slightly on the 11th, and has since re-entered a recovery trend. That losses remained contained despite growing caution toward global risk assets is attributed to a defensive line built in advance by winding down positions in leveraged products SOXL and TQQQ. A threatening rise in oil prices is another variable. WTI climbed to $101.89 per barrel, raising concerns of a resurgence in inflation, while the U.S. 10-year yield remains elevated at 4.96%. Although this environment weighs on growth stock valuations, the portfolio has offset the pressure through a strategy focused on price attractiveness relative to the growth of individual stocks.

Core Holdings: Weighted Toward Undervalued Growth

Stock	Quantity	Purchase Price	Current Price	P/E
NVIDIA	26.59 sh	$184.21	$218.29	27.6
Broadcom	5.67 sh	$326.03	$361.99	46.2
AMD	7.17 sh	$198.62	$516.13	131.7
Micron	0.23 sh	$996.00	$975.26	22.0
Amazon	1.95 sh	$208.39	$256.78	20.7
Meta	0.55 sh	$653.56	$648.03	24.4
Intel	2.80 sh	$104.56	$102.94	-
SOXL	15.42 sh	$71.22	$121.82	40.5
TQQQ	1.19 sh	$76.34	$70.98	28.8

The portfolio's twin pillars, NVIDIA and Broadcom, have PEG ratios — stock price relative to growth — of 0.46 and 0.36, respectively, suggesting they remain in undervalued territory given the durability of AI demand. Micron in particular, with a PEG of 0.14, is priced quite comfortably relative to growth even factoring in the inherent cyclicality of memory semiconductors. AMD, by contrast, has seen its stock more than double from the purchase price, pushing its P/E ratio to 131x and entering a phase where earnings growth must catch up. Intel continues to post losses, making it a stock to watch, with an earnings turnaround set to determine future returns.

A Cycle of Profit-Taking and Reallocation

Date	Type	Stock	Quantity	Price
2026-08-28	Sell	SOXL	0.81 sh	$123.05
2026-08-21	Buy	NVIDIA	0.84 sh	$216.85
2026-08-21	Sell	Meta	0.10 sh	$545.83
2026-08-21	Sell	Micron	0.03 sh	$974.33
2026-08-21	Sell	SOXL	0.85 sh	$122.21
2026-08-14	Buy	Intel	2.80 sh	$104.56
2026-08-14	Sell	SOXL	0.90 sh	$145.36
2026-08-07	Sell	SOXL	0.95 sh	$132.33
2026-08-07	Sell	TQQQ	0.51 sh	$72.03
2026-07-31	Buy	SOXL	1.57 sh	$114.72

The key to the recent trading pattern is the phased reduction of leveraged products. SOXL was bought in late July on the basis of undervaluation relative to growth in the semiconductor index, riding the momentum, but was then sold off in four tranches to lock in profits, with the proceeds shifted into individual stocks such as NVIDIA and Intel. This represents a shift in focus from index-level bets to stock-by-stock selection, read as an attempt to reduce volatility during the semiconductor correction. The reduction in Meta reflects risk management amid concerns over intensifying competition in the advertising market.

Outlook

In the short term, elevated U.S. rates and rising oil prices could weigh on growth stocks. However, Bitcoin rose 2.64%, indicating risk appetite has not fully shut off, and Nasdaq 100 futures edged higher, leaving open the possibility that the semiconductor correction ends as a temporary breather. As long as the core holdings maintain their value relative to growth, the portfolio's selective approach is expected to remain an effective defensive tool even in a downturn.

※ This report analyzes the simulated performance of the AI Value Portfolio and is not investment advice. Actual investment decisions should be made at your own judgment and responsibility.